{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}



Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: LEGAL, REGULATORY, AND POLITICAL ISSUES AND LEGAL,REGULATORY,POLITICAL ARENAS: LEGAL,REGULATORY,POLITICAL WHY BUSINESS SHOULD BE CONCERNED CONCERNED Legal Civil suits Fines Restrictive decisions Regulatory Fines Restrictive regulations Political Legislation Unsympathetic regulatory appointees Unsympathetic elected officials RATIONALE FOR REGULATIONS REGULATIONS Economic and competitive reasons Natural monopoly Monopoly and unfair practices Adequacy of information Social reasons Externalities Equity Quality of life (health and safety) Preservation and aesthetics ROLE OF REGULATORY AGENCIES AGENCIES Waves of regulation New Deal (1930’s) 1960’s leads to EPA, EEOC, Endangered 1960’s Species Act in 1970’s Species Types of agencies Traditional vs. functional Complexity of legislative process Open to societal involvement Business and special interest groups Lengthy and subject to delay Legislation is not implementation COSTS AND BENEFITS OF REGULATIONS REGULATIONS Costs Federal Regulatory budget ($25 billion) Compliance Costs Benefits Equality in the workplace Safer workplace Resources for the disadvantaged Clean air and water Preservation of habitat and beautiful places Consumer information Competitive marketplace LEGAL,REGULATORY AND POLITICAL ARENAS: LEGAL,REGULATORY BUSINESS AVENUES OF CONTROL AND INFLUENCE CONTROL Legal Institutionalize values and ethics codes Challenge regulations in court Regulatory Compliance systems Develop relationship with regulators Self-regulation Political Lobbying PAC’s Campaign contributions The government is considering a ‘bottle law’. Soft drinks, beers, wine, etc. will be restricted to standard sized bottles that consumers can return to retail stores and from there they will go to distribution centers to be cleaned and re-used. Consumers will pay a deposit that will be refunded when they return the bottle. What might be the benefits of this law? Why might business dislike this law? How might business attempt to prevent this law from being enacted? ...
View Full Document

{[ snackBarMessage ]}

Ask a homework question - tutors are online